PBOC Fixes Yuan Midpoint at 6.7892 per Dollar, Slight Firming
The People's Bank of China set the USD/CNY central parity rate at 6.7892, a marginal strengthening from the previous 6.7899 fix.
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The People’s Bank of China (PBOC) fixed the daily reference rate for the yuan at 6.7892 per dollar on Tuesday, compared with 6.7899 in the prior session.
The central parity rate serves as the midpoint for the onshore yuan (CNY), which is allowed to trade within a band of ±2% around the fix. A lower USD/CNY fixing signals a slightly stronger yuan.
The 7-pip adjustment was in line with market expectations and reflects mild dollar weakness in early trade.
Source: FXStreet Forex News